Lebanon Opportunities

WHAT’S NEW BUSINESS

Provided by

Port of Tripoli selected as terminal by CMA CGM

The Port of Tripoli (PoT) has been selected as a main terminal in the Eastern Mediterranean for two of the sea routes of CMA CGM, one of the world’s largest shipping companies, starting in February. This will boost the number of containerships calling on PoT each month by 83 percent to 22 vessels, according to the Tripoli Port Authority. It said that CMA CGM will use the port for local cargo and for transshipment operations. The trajectory of ‘Med Express’, one of the routes, includes the ports of Hamad (Qatar), Jebel Ali (UAE), Jeddah (Saudi Arabia), Piraeus (Greece), Genoa (Italy), and Karachi (Pakistan), in addition to Malta and two ports in India. The second route, ‘Middle East Gulf East Med’ (MEGEM), includes the ports of Jebel Ali, Hamad, Mersin (Turkey), and Port Said (Egypt), along with the three Saudi ports of Dammam, Jubail, and Jeddah. Ahmad Tamer, Director General of PoT, said that MEGEM has the potential to play a crucial role in the export of local goods as it links Lebanon to major Arab markets. The two routes are not being diverted to Tripoli from the Port of Beirut. According to Tamer, this is the

You’re reading a preview, subscribe to read more.

More from Lebanon Opportunities

Lebanon Opportunities2 min read
Finance
Provided by The Cedar Oxygen fund approved more than 60 loans to the industrial sector in 2022 boosting its lending portfolio over seven times in one year to above 70 loans, according Ibrahim Salibi, CEO of Cedar Oxygen-Lebanon. The size of a loan ra
Lebanon Opportunities9 min read
Property Market Thrives On The Tourism Boom Batroun Is Bucking The Trend
The surge in tourism activity in Batroun continues to act as a catalyst that spurs the real estate market in the northern town. At a time when large-scale conventional development work is still stagnant due to the lack of bank financing, renovation w
Lebanon Opportunities2 min readCrime & Violence
Barely Avoiding Grey List Through A Year Grace Period
The Financial Action Task Force (FATF), a financial crime watchdog, has granted Lebanon a one year grace period to implement financial, monetary, and banking reforms before placing it on the ‘Jurisdictions under Increased Monitoring’, also known as t

Related